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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: bobby beara who wrote (49536)	5/6/2000 11:28:00 AM
From: marginmike	Read Replies (1) of 99985

With all due respect what does QCOM have todo with crazy internet companies? Iam as bearish as you but QCOM is not the company to use as your whipping child. They use none of the smoke and mirror earnings tactics you despise, They will make over a BILLION dollars in earnings next year, they have 2-3 billion in cash no debt and will grow 40-50% next years. On a realistic 2 back two forward PE is around 90. Its not cheap but it is nowhere in the realm of crazy Internet valuations. As for the price Qcom was not 200 in december, it was arround 160-170, it hit 200 on one day in which the futures were boosted because of Y2K. It is down 30% and probably rightly so, however QCOM is a Tech powerhouse, and the wirless industry will boom with or without a recession. There are way to many people who need wirless phones to replace their existing crap networks in third worl country. In the 90's in Europe wirless was one of the few industries to withstand the terrible conditions in EUROPE and in Oct Asian crisis Korean and Japanese sub growth didnt miss a beat.

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